TIDMNANO
RNS Number : 1370E
Nanoco Group PLC
05 July 2021
FOR IMMEDIATE RELEASE 5 July 2021
Nanoco Group PLC
( " Nanoco, the " Group", or the " Company")
Development Agreement
Nanoco Group plc (LSE: NANO), a world leader in the development
and manufacture of cadmium-free quantum dots and other
nanomaterials emanating from its technology platform, today
announces that it has signed a Development Agreement (the
'Agreement') for a project (the 'Project') with a very significant
Asian chemical company.
The Project builds on recently completed feasibility work
relating to the development of a potential new nano-material for
the customer and the continued supply of a previously developed
material. If the new nano-material is successfully developed, it
will be suitable for use in electronic devices across a number of
sensing applications and end markets.
The first phase of the Project will complete in the second half
of calendar year 2021. The Agreement outlines two further phases
that are contingent on the success of the first phase and have the
potential to run through to the end of FY22.
The total value of work for this new customer in the current
financial year increases the Board's revenue expectations for FY21
by approximately 10% and, if realised, the subsequent phases will
have a similar impact in FY22. Subsequent scale up or commercial
production is contingent on the successful completion of all three
phases of the Project and would arise after FY22.
Brian Tenner, Nanoco's CEO, commented:
"This is an important expansion of our portfolio of products for
use in infra-red sensing applications. Nanoco now offers a growing
range of materials covering an increasing breadth of operational
wavelengths for sensors in a multitude of potential end user
applications.
"Our new customer is a very significant player in electronics
supply chains globally. They further diversify our customer base
and add additional routes to market with their own extensive
customer list. This additional reach into leading global technology
companies creates further momentum for Nanoco in commercialising
our nano-materials for use in sensing applications.
"Market interest in sensing applications continues to grow and
Nanoco's IP-backed platform technology remains a robust foundation
for our work in these fields of use. With other Nanoco customers
outlining their product road maps, we can see clear routes to
commercialising our technology and to exploiting our Runcorn
production facility in the short to medium term."
- Ends -
For further information, please contact:
Nanoco Group PLC : +44 (0) 161 603 7900
Brian Tenner, CEO
Liam Gray, UK FD and & Company Secretary
Caroline Watson, Investor Relations Manager
cwatson@nanocotechnologies.com
Peel Hunt:
Edward Knight +44 (0) 20 7418 8900
Nick Prowting
MHP Communications : +44 (0) 203 128 8788
Reg Hoare
Giles Robinson
Pete Lambie
nanoco@mhpc.com
The person responsible for arranging for the release of this
announcement on behalf of Nanoco is Liam Gray, Company
Secretary.
MAR
The information contained within this announcement is considered
by the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via a Regulatory Information Service, this
inside information will be considered to be in the public
domain.
FORWARD LOOKING STATEMENTS
This announcement (including information incorporated by
reference in this announcement) and other information published by
Nanoco may contain statements about Nanoco that are or may be
deemed to be forward looking statements. Such statements are
prospective in nature. All statements other than historical
statements of facts may be forward looking statements. Without
limitation, statements containing the words "targets", "plans",
"believes", "expects", "aims", "intends", "will", "may",
"anticipates", "estimates", "projects" or "considers" or other
similar words may be forward looking statements.
Forward looking statements inherently contain risks and
uncertainties as they relate to events or circumstances in the
future. Important factors such as business or economic cycles, the
terms and conditions of Nanoco's financing arrangements, tax rates,
or increased competition may cause Nanoco's actual financial
results, performance or achievements to differ materially from any
forward looking statements. Due to such uncertainties and risks,
readers are cautioned not to place undue reliance on such forward
looking statements, which speak only as of the date hereof. Nanoco
disclaims any obligation to update any forward looking or other
statements contained herein, except as required by applicable
law.
Notes for editors:
About Nanoco Group plc
Nanoco (LSE: NANO) harnesses the power of nano-materials.
Nano-materials are materials with dimensions typically in the range
1 - 100 nm. Nano-materials have a range of useful properties,
including optical and electronic. Quantum dots are a subclass of
nano-material that have size-dependent optical and electronic
properties. The Group produces quantum dots. Within the sphere of
quantum dots, the Group exploits different characteristics of the
quantum dots to target different performance criteria that are
attractive to specific markets or end-user applications such as the
Display and Electronics markets. One of the interesting properties
of quantum dots is photoluminescence: the emission of longer
wavelength light upon excitation by light of a shorter wavelength.
The colour of light emitted depends on the particle size. Nanoco's
CFQD(R) quantum dots are free of cadmium and other toxic heavy
metals and can be tuned to emit light at different wavelengths
across the visible and infrared spectrum, rendering them useful for
a wide range of applications including displays, lighting and
biological imaging.
Nanoco was founded in 2001 and is headquartered in Manchester,
UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco
continues to build out a world-class, patent-protected IP portfolio
generated both by its own innovation engine, as well as through
acquisition.
Nanoco is listed on the Main Market of the London Stock Exchange
and trades under the ticker symbol NANO. For further information
please visit: www.nanocotechnologies.com .
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END
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